Correlation Between Ringkjoebing Landbobank and Jyske Invest
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By analyzing existing cross correlation between Ringkjoebing Landbobank AS and Jyske Invest Virksomhedsobligationer, you can compare the effects of market volatilities on Ringkjoebing Landbobank and Jyske Invest and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Ringkjoebing Landbobank with a short position of Jyske Invest. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ringkjoebing Landbobank and Jyske Invest.
Diversification Opportunities for Ringkjoebing Landbobank and Jyske Invest
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Ringkjoebing and Jyske is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Ringkjoebing Landbobank AS and Jyske Invest Virksomhedsobliga in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jyske Invest Virksom and Ringkjoebing Landbobank is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Ringkjoebing Landbobank AS are associated (or correlated) with Jyske Invest. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jyske Invest Virksom has no effect on the direction of Ringkjoebing Landbobank i.e., Ringkjoebing Landbobank and Jyske Invest go up and down completely randomly.
Pair Corralation between Ringkjoebing Landbobank and Jyske Invest
Assuming the 90 days trading horizon Ringkjoebing Landbobank AS is expected to generate 2.89 times more return on investment than Jyske Invest. However, Ringkjoebing Landbobank is 2.89 times more volatile than Jyske Invest Virksomhedsobligationer. It trades about 0.04 of its potential returns per unit of risk. Jyske Invest Virksomhedsobligationer is currently generating about 0.03 per unit of risk. If you would invest 95,627 in Ringkjoebing Landbobank AS on August 31, 2024 and sell it today you would earn a total of 19,373 from holding Ringkjoebing Landbobank AS or generate 20.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 61.8% |
| Values | Daily Returns |
Ringkjoebing Landbobank AS vs. Jyske Invest Virksomhedsobliga
Performance |
| Timeline |
| Ringkjoebing Landbobank |
| Jyske Invest Virksom |
Ringkjoebing Landbobank and Jyske Invest Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ringkjoebing Landbobank and Jyske Invest
The main advantage of trading using opposite Ringkjoebing Landbobank and Jyske Invest positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ringkjoebing Landbobank position performs unexpectedly, Jyske Invest can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Jyske Invest will offset losses from the drop in Jyske Invest's long position.| Ringkjoebing Landbobank vs. Sydbank AS | Ringkjoebing Landbobank vs. Jyske Bank AS | Ringkjoebing Landbobank vs. Royal Unibrew AS | Ringkjoebing Landbobank vs. Spar Nord Bank |
| Jyske Invest vs. Nordea Bank Abp | Jyske Invest vs. BankInvest Value Globale | Jyske Invest vs. Fynske Bank AS | Jyske Invest vs. Skjern Bank AS |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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